Designer Brands Inc. 8-K

What Happened
Designer Brands Inc. announced that its Board appointed Sheamus Toal as Executive Vice President and Chief Financial Officer, effective February 16, 2026. The appointment was announced in an 8-K filed February 11, 2026 (Board action taken February 6). Mark A. Haley will step down as interim Principal Financial Officer on the effective date but will continue as Senior Vice President, Controller and Principal Accounting Officer.

Key Details

• Effective date: February 16, 2026; 8-K filed February 11, 2026.
• Compensation: annual base salary of $750,000 and target annual cash bonus of 75% of salary.
• Equity: 2026 long-term incentive award with an aggregate target value of $1,500,000 (50% performance shares, 50% restricted stock units), subject to vesting and plan terms.
• Severance/termination: if involuntarily terminated without “cause” (and a release is signed), Toal would receive 12 months salary continuation, a pro‑rata cash bonus for the year of termination, 12 months accelerated vesting of outstanding equity, and up to 12 months COBRA reimbursement; he will be bound by confidentiality, non‑compete, non‑solicit and cooperation provisions.
• Background: Toal, 56, is a CPA with a B.S. in Accounting from St. John’s University; prior roles include CFO/COO at The Children’s Place, CFO at Saatva, and senior finance roles (including CEO) at New York & Company. The filing states no related-party transactions or family relationships requiring disclosure.

Why It Matters
This replaces an interim finance chief with an experienced retail finance executive, which could provide operational and reporting continuity for investors ahead of future financial disclosures. The disclosed pay and severance terms are material facts investors can use to assess potential near-term compensation expense and governance around executive transitions. The company said the full executive agreement will be filed as an exhibit to its next periodic report.